Alabama Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-136
• Format: Word; Rich Text

Description

This sample form, a detailed Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Alabama Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company outlines the specific characteristics, privileges, and entitlements associated with this particular class of stock issued by the company. This detailed description provides an insight into the various features and options available to Series B Junior Cumulative Convertible Preference Stockholders in Alabama. The Series B Junior Cumulative Convertible Preference Stock encompasses several key preferences and rights, including: 1. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive cumulative dividends before any dividends are distributed to common stockholders. This means that any unpaid dividends will accrue and must be paid before dividends can be paid to other shareholders. 2. Junior Ranking: The Series B Junior Cumulative Convertible Preference Stock is considered junior to any preferred stock issued by Onyx Energy Company that ranks senior or equal in dividends or assets. This means that in the event of liquidation, holders of senior preferred stock are entitled to receive payment first. 3. Convertibility: The Series B Junior Cumulative Convertible Preference Stock is convertible into a predetermined number of common shares at the discretion of the stockholder. Conversion typically occurs at a specified conversion ratio, allowing preferred stockholders to potentially benefit from any increase in the company's stock price. 4. Voting Rights: Holders of Series B Junior Cumulative Convertible Preference Stock generally do not possess voting rights, unless there are certain significant events or circumstances specified within the Certificate of Designation. These events could include the non-payment of dividends or the issuance of preferred shares that significantly affect the rights of the Series B stockholders. It is important to note that this description specifically applies to the Series B Junior Cumulative Convertible Preference Stock issued by Onyx Energy Company in Alabama. It is essential to review the specific terms and conditions outlined in the Certificate of Designation for any variations or additional types of Alabama Certificates of Designation, Preferences, and Rights associated with different series or classes of preferred stock issued by Onyx Energy Company.

The Alabama Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company outlines the specific characteristics, privileges, and entitlements associated with this particular class of stock issued by the company. This detailed description provides an insight into the various features and options available to Series B Junior Cumulative Convertible Preference Stockholders in Alabama. The Series B Junior Cumulative Convertible Preference Stock encompasses several key preferences and rights, including: 1. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive cumulative dividends before any dividends are distributed to common stockholders. This means that any unpaid dividends will accrue and must be paid before dividends can be paid to other shareholders. 2. Junior Ranking: The Series B Junior Cumulative Convertible Preference Stock is considered junior to any preferred stock issued by Onyx Energy Company that ranks senior or equal in dividends or assets. This means that in the event of liquidation, holders of senior preferred stock are entitled to receive payment first. 3. Convertibility: The Series B Junior Cumulative Convertible Preference Stock is convertible into a predetermined number of common shares at the discretion of the stockholder. Conversion typically occurs at a specified conversion ratio, allowing preferred stockholders to potentially benefit from any increase in the company's stock price. 4. Voting Rights: Holders of Series B Junior Cumulative Convertible Preference Stock generally do not possess voting rights, unless there are certain significant events or circumstances specified within the Certificate of Designation. These events could include the non-payment of dividends or the issuance of preferred shares that significantly affect the rights of the Series B stockholders. It is important to note that this description specifically applies to the Series B Junior Cumulative Convertible Preference Stock issued by Onyx Energy Company in Alabama. It is essential to review the specific terms and conditions outlined in the Certificate of Designation for any variations or additional types of Alabama Certificates of Designation, Preferences, and Rights associated with different series or classes of preferred stock issued by Onyx Energy Company.